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Thursday, 05/26/2016 10:12:41 PM

Thursday, May 26, 2016 10:12:41 PM

Post# of 120381
TCK News- 5:08 pm Teck Resources prices offering of $1.25 bln aggregate principal amount senior unsecured notes (TCK) :

Teck will issue US$1.25 billion in aggregate principal amount of senior unsecured notes, consisting of US$650 million aggregate principal amount of five-year notes and US$600 million aggregate principal amount of eight-year notes.


The five-year notes will bear interest at the rate of 8.000% per annum and will be callable on or after June 1, 2018. The eight-year notes will bear interest at the rate of 8.500% per annum and will be callable on or after June 1, 2019.
•Teck expects to receive aggregate net proceeds of approximately US$1.23 billion from the offering, after deducting underwriting fees and estimated offering expenses. Teck intends to use the net proceeds from the offering to fund its previously announced tender offers to purchase for cash up to US$1 billon principal amount of its 3.150% Notes due 2017, 3.850% Notes due 2017, 2.500% Notes due 2018 and 3.000% Notes due 2019, subject to the terms and conditions specified in the related offer to purchase.

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